Nike Shares Surge on Surprise Sales Growth—Monitor These Key Stock Price Levels
Key Takeaways
- Nike shares jumped Wednesday morning after the sports apparel and equipment maker posted surprise sales growth and topped Wall Street’s earnings expectations.
- Over the past month, the stock has traded lower within a falling wedge but looks set to break out from the pattern.
- Investors should watch important overhead areas on Nike’s chart around $80, $90 and $98, while also monitoring major support levels near $71 and $63.
Nike (NKE) shares jumped in early trading Wednesday after the sports apparel and equipment maker posted surprise sales growth and topped Wall Street’s earnings expectations.
The company said revenue grew 1% in the fiscal first quarter from a year earlier, well above its prior guidance of a…
